If the United States imposed a 25 percent tariff on imports of minivans, the effect would be to
A. raise the price and reduce the quantity of imports.
B. raise the price and the quantity of imports.
C. lower the price and the quantity of imports.
D. raise the quantity and reduce the price of imports.
Answer: A
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Use the following table to answer the next question. The base year is 2007. Hot DogsBaseballsBottles of SodaYearPriceQuantityPriceQuantityPriceQuantity2005$2.00100$5.0050$2.0010020064.001005.001002.0015020076.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Nominal GDP for 2009 equals ________.
A. $2,300 B. $5,000 C. $2,700 D. $3,600
What is Real Business Cycle Theory? What drives business cycles in this model? Where do these shocks come from?
What will be an ideal response?
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and reserve-related (central bank) transactions in the context of the
Three-Sector-Model? a. The quantity of real loanable funds per time period falls, and reserve-related (central bank) transactions remain the same. b. The quantity of real loanable funds per time period falls, and reserve-related (central bank) transactions become more negative (or less positive). c. The quantity of real loanable funds per time period rises, and reserve-related (central bank) transactions remain the same. d. There is not enough information to determine what happens to these two macroeconomic variables. e. The quantity of real loanable funds per time period falls, and reserve-related (central bank) transactions become more positive (or less negative).
Who gains in a voluntary trade?
A. Both the buyer and the seller, but the seller usually gains more. B. Both the buyer and the seller. C. The buyer only. D. The seller only.